BMO Investments Inc. Announces Results of Special Meetings of Securityholders

20.09.2016, 04:28

OREANDA-NEWS. September 20, 2016. BMO Investments Inc. (the "Manager"), the manager of the BMO Mutual Funds, today announced the receipt of the required approvals from securityholders at special meetings held on September 16, 2016 to proceed with the previously announced mergers (collectively, the "Mergers" and each a "Merger") of certain mutual funds (each a "Terminating Fund") listed in the table below into the corresponding funds (each a "Continuing Fund") also listed below.

Each of the Mergers below received the approval of securityholders of the applicable Terminating Funds and BMO Global Low Volatility ETF Class, and the Canadian securities regulatory authorities. The Mergers will be effective on or about the dates set out below:

Terminating Fund

Continuing Fund

Effective Date

BMO Canadian Low Volatility ETF Class

BMO Global Low Volatility ETF Class

September 23, 2016

BMO High Yield Bond Fund

BMO U.S. High Yield Bond Fund

October 14, 2016

BMO Enhanced Equity Income Fund

BMO Dividend Fund

September 23, 2016

BMO Canadian Diversified Monthly Income Fund

BMO Diversified Income Portfolio

October 14, 2016

As a result of the Mergers, securityholders of each series of each Terminating Fund will receive securities of the same series of the corresponding Continuing Fund, determined on a dollar-for-dollar basis. Each Merger, except for the Merger of BMO High Yield Bond Fund into BMO U.S. High Yield Bond Fund, will be effected on a tax-deferred basis. Each Terminating Fund will be wound up or cancelled, as applicable, as soon as reasonably possible following its Merger.

Securityholders of a Terminating Fund will have the right to redeem securities of, or make switches out of, the Terminating Fund up to the close of business on the business day immediately before the applicable effective date of each Merger. In the case of the redemption of securities of a Terminating Fund that was purchased under the deferred sales charge or the low load option, any applicable redemption fees will still be payable by the securityholder.

In addition, the merger of BMO Global Monthly Income Fund into BMO Global Diversified Fund will not proceed as previously announced on July 8, 2016. At a special meeting of unitholders of BMO Global Monthly Income Fund held on September 16, 2016 unitholders did not approve the merger. BMO Global Monthly Income Fund will continue to be available for purchase by investors.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the fund facts or prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of \\$692 billion as of July 31, 2016, and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.